MUAR: Six Bangladeshi men who operated an unlicensed money-lending syndicate were fined RM2,500 each after they pleaded guilty in the magistrate's court here today.
The defendants - Hossain Akhter, 40; Ahmed Kabir, 29; Shohag, 29; Sariful Islam, 29; Islam Atikul, 29; and Ahmed Hossain, 29 - entered guilty pleas before Magistrate Suzana Mokhtar.
The group was charged with operating an illicit money-lending operation from a Hong Leong Bank branch on Jalan Bakri at 4.30pm on Nov 6.
They were prosecuted under Section 29AA of the Moneylenders Act 1951, read in conjunction with Section 34 of the Penal Code, which carries up to two years' imprisonment, a maximum RM20,000 fine, or both upon conviction.
According to case details, police received a tip-off about foreigners conducting unlicensed lending activities in the area.
Investigations by the Muar district police headquarters' commercial crime investigation division led to the arrest of all six suspects.
Officers confiscated 187 ATM cards belonging to borrowers, which were used to facilitate monthly repayments.
The investigation revealed that the accused targeted foreign workers and offered loans at a 10 per cent interest rate.
After disbursing the loans, they demanded the borrowers' ATM cards and their personal identification numbers for repayments.
Deputy public prosecutor Nor Aqillah Mohd Rofaie prosecuted, while Barath Paramasivan and Teng Jinghen represented the accused.
After hearing the arguments and appeals from both sides, the court imposed a fine of RM2,500 on each defendant, with an additional three-month jail term if they fail to pay.